Limited scrap availability worries buyers
Buyers are all worried about the limited scrap availability. The shortage is still seen as a natural consequence of strong demand for imported scrap in Far Eastern and the US markets during the first half of the year, on top of the consistent demand in Europe and Middle East. Traders advise that they do not expect any change on the supply side, and consequently the producers are invited to take necessary measurements for the summer months. Grade A3 scrap from CIS has already hit the range of $97-100/mt FOB St and European shredded scrap price range for exports is $106-109/mt FOB. Further price increases should not be considered as surprise.